Can I borrow from my 401(k) without incurring a tax liability?
I'm 66 yrs old, and I want to borrow $650,000 from my 401(k) to purchase a home before I sell my current home without incurring large tax liability. My 401(k) value is $880,000.
Answers | 1
Accredited Investment Fiduciary AIF ® in Lakewood, WA
October 21, 2015
Asked by victor piediscalzo
Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA
Victor, Thanks for your question. Some type of a tax-deferred retirement accou...
Asked by Tom